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Gary Gordon Joins Annaly Mortgage Management

27 Mar 2006
Gary Gordon Joins Annaly Mortgage Management
Company Release - 03/27/2006 10:09

NEW YORK--(BUSINESS WIRE)--March 27, 2006--Annaly Mortgage Management, Inc. (NYSE: NLY) today announced that Gary Gordon, formerly chief US market strategist for UBS, has joined the Company as an Executive Vice President. Mr. Gordon will focus on investment product development within FIDAC, Annaly's wholly-owned registered investment advisor, and economic and market research.

Michael A.J. Farrell, Chairman, CEO and President of Annaly, commented on the new position. "Gary Gordon is one of the most experienced and respected strategists in the financial markets, and he will be a welcome addition to our investing and research team. His investment strategy emphasis in the financial services sector complements our existing skill set. I look forward to working with Gary as we continue to explore ways to grow our product offerings within FIDAC."

In his over 20 years on Wall Street, Mr. Gordon covered the financial services, housing and consumer finance industries. As an equity research analyst, he specifically followed savings banks, mortgage and credit card lenders, finance companies, homebuilders and REITs. He also served for several years as UBS' chief US market strategist and most recently was the research director at a hedge fund. He was frequently named to the Institutional Investor and Wall Street Journal All-Star lists. Mr. Gordon earned a BA from Colgate University and an MBA from The Wharton School with a degree in finance.

"With the addition of FIDAC, Mike Farrell and his team have built a platform for growing Annaly into a formidable asset management company," said Mr. Gordon. "I am excited to be a part of it and hope to be able to contribute to its continuing growth."

Annaly manages assets on behalf of institutional and individual investors worldwide through Annaly and through the funds managed by its wholly-owned registered investment advisor, FIDAC. The Company's principal business objective is to generate net income for distribution to investors from the spread between the interest income on its mortgage-backed securities and the cost of borrowing to finance their acquisition and from dividends Annaly receives from FIDAC, which earns investment advisory fee income. The Company is a Maryland corporation that has elected to be taxed as a real estate investment trust ("REIT").


    CONTACT: Annaly Mortgage Management, Inc.
             Investor Relations, 1-888-8Annaly
             www.annaly.com

    SOURCE: Annaly Mortgage Management, Inc.

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